Duff & Phelps Investment Management Co. Trims Stake in TechnipFMC PLC (FTI)

Duff & Phelps Investment Management Co. trimmed its stake in shares of TechnipFMC PLC (NYSE:FTI) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,741 shares of the oil and gas company’s stock after selling 12,979 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TechnipFMC were worth $3,579,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of TechnipFMC during the 3rd quarter worth approximately $25,005,000. Nomura Asset Management Co. Ltd. raised its position in shares of TechnipFMC by 4.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 94,474 shares of the oil and gas company’s stock worth $2,953,000 after purchasing an additional 4,320 shares during the last quarter. Palo Capital Inc. acquired a new position in shares of TechnipFMC during the 3rd quarter worth approximately $761,000. Aviva PLC raised its position in shares of TechnipFMC by 1.0% during the 3rd quarter. Aviva PLC now owns 4,867,270 shares of the oil and gas company’s stock worth $153,192,000 after purchasing an additional 47,769 shares during the last quarter. Finally, South Texas Money Management Ltd. raised its position in shares of TechnipFMC by 3.3% during the 3rd quarter. South Texas Money Management Ltd. now owns 615,407 shares of the oil and gas company’s stock worth $19,231,000 after purchasing an additional 19,689 shares during the last quarter. Institutional investors own 64.76% of the company’s stock.

Get TechnipFMC alerts:

Several research analysts recently issued reports on FTI shares. Piper Jaffray Companies restated a “buy” rating on shares of TechnipFMC in a research report on Monday, October 29th. BMO Capital Markets upgraded TechnipFMC from a “market perform” rating to a “buy” rating and cut their price objective for the stock from $29.00 to $28.00 in a research report on Thursday, December 13th. HSBC upgraded TechnipFMC from a “reduce” rating to a “hold” rating and set a $23.12 price objective for the company in a research report on Sunday, December 2nd. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Thursday, November 22nd. Finally, Royal Bank of Canada set a $32.00 price objective on TechnipFMC and gave the stock a “buy” rating in a research report on Friday, October 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company. TechnipFMC presently has an average rating of “Buy” and a consensus target price of $35.15.

FTI stock opened at $22.35 on Friday. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.33 and a quick ratio of 1.19. TechnipFMC PLC has a one year low of $18.20 and a one year high of $34.39.

TechnipFMC announced that its board has approved a stock buyback program on Wednesday, December 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other news, CEO Douglas J. Pferdehirt bought 50,000 shares of the stock in a transaction on Monday, December 31st. The stock was purchased at an average cost of $19.20 per share, with a total value of $960,000.00. Following the purchase, the chief executive officer now owns 525,802 shares of the company’s stock, valued at $10,095,398.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by insiders.

WARNING: “Duff & Phelps Investment Management Co. Trims Stake in TechnipFMC PLC (FTI)” was posted by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.tickerreport.com/banking-finance/4139794/duff-phelps-investment-management-co-trims-stake-in-technipfmc-plc-fti.html.

TechnipFMC Company Profile

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.

See Also: How to Invest in an Index Fund

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TechnipFMC PLC (NYSE:FTI).